Renewable Drones Market: Market Segments: By Type (Multirotor and Fixed win); By Application (Telecommunications, Automotive, Industrial, Medical, Military, Defense& Aerospace and Others); By End user (Solar and Wind); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030
Renewable drones are planned to expand at a rapid pace as the industry focuses on UAV services, line-of-sight applications, ocean-going ship tracking, inspection or wind turbine inspection, inspection of offshore platforms and refineries, monitoring of power lines, and solar panels in the energy sector. As one way to alleviate congestion and enhance air quality in urban areas, passenger drones have been touted. Equipped with thermal cameras, drones make it possible to conduct inspections rapidly and on a scale.
Renewable Drones Market is expected to project a notable CAGR of 26.5% in 2030.
Renewable Drones Market to surpass USD 152 million by 2030 from USD 42 million in 2019 at a CAGR of 26.5% throughout the forecast period, i.e., 2020-30. The key factors driving the demand for sustainable drones are expected to increase the adoption of drones to reduce the cost of inspection operations based on asset optimization and increasing construction of solar and wind farms.
Renewable Drones Market: Segments
Multirotor segment to grow with the highest CAGR during 2020-30
Renewable Drones Market is segmented by type as multirotor and fixed-wing. The greater market share in 2018 was accounted by multirotor segment owing to various advantages over Fixed wing drones. Vertical takeoffs and landings can be done by multi-rotor planes. For easy inspection, visualization, and modelling, they also need less space to take off can hover mid-flight, and man oeuvre around objects.
Renewable Drones Market: Market Dynamics
Growing construction of solar and wind farms
Sector of renewable energy is among the fastest-growing sectors worldwide. With advanced technology, renewable energy plants are being built at a rapid rate, with a rising demand for clean and sustainable energy. Countries are moving their emphasis from traditional sources of energy toward rising renewable energy production. At a CAGR of more than 21% since 2000, wind power has increased.
Strict regulations for performing drone operations
Drones are extremely important to utilities for conducting inspection activities. Legal provisions, however have limited development in the drone industry. In certain cases, such as Behind Visual Line of Sight, over a long distance, or at night, these regulations exclude drone operations in particular.
Renewable Drones Market: Key Players
• DJI Enterprise
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
• Terra Drone
• Cyberhawk Innovations Limited
• ULC Robotics
• Sharper Shape Inc.
• Sky Futures
• Asset Drone
Renewable Drones Market: Regions
Renewable Drones Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Renewable Drones Market in Asia Pacific held the largest market share of XX.X% in the year 2018 and it is expected to continue its market dominance in the future as the region has a Strong electricity demand owing to an increase in urbanization, industrialization, and population growth. A rapid rise in economic growth will lead to an increase in electricity demand. The region’s market is likely to be driven by high investments in renewable energy generation, especially in developing countries such as China and India, and government subsidies for upgrading the renewable energy sector. Owing to the rapidly Aprilreasing prices of solar panels, the area is expected to experience an increase in investment. Due to extensive agricultural land and attempts to minimize the usage of fossil fuel oil, the demand for renewable drones in the Middle East & Africa is expected to grow at a significant pace during the forecast period. Government pollution-free and clean energy policies are also expected to drive the region’s green drone market during the forecast period.
Renewable Drones Market report also contains analysis on:
Renewable Drones Market Segments:
• Fixed wing
• Military, Defense& Aerospace
By End user:
o Solar PV
o Solar CSP
• Renewable Drones Market Dynamics
• Renewable Drones Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
FAQs on Renewable Drones Market
· Which segment is anticipated to hold the largest market share?
· At what CAGR is the market anticipated to grow between 2020 and 2030?
· Who are the key players in the Renewable Drones Market?
· What could be the challenging factors in the growth of Renewable Drones Market?
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